Peregrine Capital Management LLC Boosts Holdings in Ocular Therapeutix, Inc. $OCUL

Peregrine Capital Management LLC raised its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 26.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 720,462 shares of the biopharmaceutical company’s stock after acquiring an additional 149,359 shares during the quarter. Peregrine Capital Management LLC’s holdings in Ocular Therapeutix were worth $6,102,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Summer Road LLC increased its stake in shares of Ocular Therapeutix by 6.9% during the first quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after acquiring an additional 771,270 shares during the period. Pictet Asset Management Holding SA increased its holdings in Ocular Therapeutix by 1,229.6% in the first quarter. Pictet Asset Management Holding SA now owns 362,596 shares of the biopharmaceutical company’s stock valued at $3,071,000 after buying an additional 335,324 shares in the last quarter. Union Bancaire Privee UBP SA raised its holdings in Ocular Therapeutix by 13.6% during the first quarter. Union Bancaire Privee UBP SA now owns 25,000 shares of the biopharmaceutical company’s stock worth $212,000 after purchasing an additional 3,000 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in shares of Ocular Therapeutix during the 1st quarter worth approximately $872,000. Finally, Hilton Head Capital Partners LLC raised its holdings in shares of Ocular Therapeutix by 30.4% in the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,053 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Insider Activity

In other news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the sale, the insider directly owned 2,597,170 shares of the company’s stock, valued at $21,296,794. The trade was a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 28,999 shares of company stock worth $237,792. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and an average price target of $25.11.

Ocular Therapeutix Stock Performance

Shares of OCUL stock opened at $9.47 on Thursday. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81. The company has a 50 day moving average price of $9.11 and a 200 day moving average price of $9.68. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -6.49 and a beta of 0.88.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.